Asia
China
Hong Kong SAR A new Agreement of Recognition Arrangement (ARA) between ACCA and HKICPA (Local statutory accountancy body) was put in place on 22 August 2006, backdated to 1 July 2005. This was less flexible as compared to the previous rule.
This replaced the old Mutual Recognition Agreement (MRA) that was terminated by HKICPA on 30 June 2005. It was a disaster for ACCA members when they had to go through so called "8 unfair terms" e.g.holding a degree recognized by HKICPA (ACCA degree offered by OUB was failed in the test), worked under HKICPA authorized employers, attend workshop, passed Final Professional Examination (FPE) etc.
On the contrary, HKICPA members could join in ACCA without any further requirement.
However, ACCA qualification is highly recognized by the Hong Kong employment market due to international and historical influences. Most HKICPA members qualified through HKSA-ACCA joint scheme which was operated for more than 20 years. HKSA (Hong Kong Society of Accountants) was the old name of HKICPA.
As of the end of 2005, there were 16,609 members in Hong Kong SAR.
Macau SAR The ACCA currently is legally recognized with the joint scheme relationships by Macau Society of Certified Practising Accountants (Local statutory accountancy body) in Macau.
Singapore ACCA and national accountancy body, Institute of Certified Public Accountants of Singapore (ICPAS), have operated a Joint Scheme of Examinations since 1983. The Joint Scheme is based on ACCA's examinations and allows students to sit papers in Singapore law and tax. All students who successfully complete the Joint Scheme examinations satisfy the examination requirements of both ACCA and ICPAS and are eligible to apply for membership of both bodies. ACCA's student numbers in Singapore for the Joint Scheme have topped 11,000.
A blog has been set up to assist those preparing for the Singapore variant law paper.
Singapore government recognizes ACCA qualification to meet her migration skills assessment to immigrate in Singapore.
As of the end of 2005, there were 5,161 members in Singapore.
Taiwan According to the rules 6(iii) & 9 of accountancy examiniation published by Taiwan government, ACCA members are entitled to obtain advanced standing in the examinations to become a Certified Public Accountant in Taiwan.
Malaysia On the 13th August 2007 ACCA and the Malaysian Institute of Certified Public Accountants (MICPA) signed a mutual recognition agreement (MRA), providing a route for members of both accountancy bodies to join the other body and to enjoy the benefits which both respected designations have to offer.
The ACCA or Chartered Certified Accountant qualification currently is recognized by the Malaysian Institute of Accountants (MIA). Only MIA members will be considered as accountants in Malaysia under the Accountants Act, 1967.
ACCA is statutorily recognised in Part II of the First Schedule of the Accountants Act, 1967.
As of December 2005, there were 7,417 members in Malaysia.
Pakistan The ACCA qualification is legally recognised as Qualified Company Secretary in Pakistan, and there is partial recognition between ACCA and the local statutory accounting body (Institute of Chartered Accountants of Pakistan).
ACCA in Pakistan has seen tremendous growth during the last five years with thousands of students enrolling every year into ACCA programs. Various local colleges and universities are also now offering ACCA programs in all major cities of the country.
Higher Education Commission (HEC) of Pakistan recognise ACCA member as equal to Masters in Commerce (M.Com)
Also ICAP awards exemption to ACCA affiliates. ICAP reduced the exemptions to ACCA affiliates/members. Previously, ACCA affiliates or members were given exemptions up to Module D. Now ACCA affiliates/members can get maximum of seven exemptions.
Others The ACCA currently is legally recognized by the national accounting institutes with the joint scheme relationships in:
Vietnam (The Ministry of Finance of the Socialist Republic of Vietnam);
Brunei (Brunei Institute of Certified Public Accountants);
Cambodia (The Ministry of Economy and Finance Kampuchea Institute of Certified Public Accountants and Auditors);
Laos (The Ministry of Finance of the Lao People's Democratic Republic).
Bangladesh (The Institute of Cost and Management Accountants of Bangladesh)
The United States Uniform CPA Examination will be offered outside the 55 U.S. jurisdictions for the first time in its history in 2011. The CPA Examination next year will be offered in Japan, Bahrain, Kuwait, Lebanon and the United Arab Emirates in direct competition with ACCA Middle East branches.
AICPA has formed a strategic alliance with CIMA to offer a new global accounting designation. This comes out as a result of the launch of Uniform CPA examinations worldwide. AICPA has changed its path moving away from a national based institute offering qualification for CPAs in public practice into an international accounting institute covering both CPAs in public practice and management accountant in conglomerates (something like ACCA does for decades).
Source:
http://en.wikipedia.org/wiki/Association_of_Chartered_Certified_Accountants#Asia